1 Answer
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In clicking "No Action Needed" you make a judgement, and the system will use your judgement to help decide what action to take in respect of a post. It may be that your click, when combined with other those of other reviewers, tips the system into taking no action (removing the post from the review queue entirely).

By clicking "Skip" you are declining to make a judgement, so the system has no additional data and will need to carry on asking others. The post will remain in the queue until there is enough data to decide what to do. In addition, declining to make a judgement will not increment your review count for progress towards review badges: by skipping the post you haven't actually reviewed it.

In both cases, the system knows that it does not have to ask you again about that post.

And if anyone has concerns about how reviews are being done, then flag a relevant question for moderator attention. We do have access to statistics and to the results of reviews, and have the capability to ban users from reviews. But it's not a routine check that we do: that is very much an "exception handler" situation.
– Andrew Leach♦Jun 22 '17 at 12:08

Can we make this post also applicable to "Looks okay" versus "Skip"? Some minor edits to the question body and to your answer will do the trick. It will be beneficial for future reviewers.
– NVZJun 23 '17 at 20:35

The answer and comments seem to suggest that a post can remain in the review queue if a reviewer clicks on "No Action Needed" or "Done". This is not the case for First Posts and Late Answers: a single click on either of the two aforementioned options immediately removes the post from the respective review queue. See this Meta SE post.
– ChappoJan 23 at 7:09